Cover Your Assets KC Podcast

Are you looking for an advisor and wonder what to ask? Or are you already working with a financial advisor but aren’t sure if it’s the right fit? Just what should a financial advisor be helping you with most? On this episode:  0:47 - What kind of service should you get with a financial advisor? 1:28 - Are there any warning signs to look for a new advisor? 2:12 - Is it possible to outgrow your advi...

When you think about the next generation and your family, you might also think about your assets being passed down. From your heirloom dining room table to your financial investments, does a will cover everything? How can you make that transition process as simple as possible (and avoid probate)? On this episode:  1:24 - I’ve got a will, isn’t that enough? 2:35 - What is probate? What usually goes...

One of the most-used investment vehicles for retirement is the 401(k) because many employees have the option offered by their company. We want to help you understand the 401(k) by answering many of the common questions we get from contribution amounts to rollovers to investing options. On this episode:  0:20 – Let’s address some frequent 401(k) questions. 0:29 – Should employees take advantage of...

As we enter into the fourth quarter of the year, you may be surprised to learn there are things you can do right now that have an impact on your taxes. Here are four strategies to implement right now. Show Notes:  https://coveryourassetskc.com/ep-46-4-important-tax-strategies-to-implement-before-the-end-of-the-year/ 1:05 - Why now? Do we really have enough time to implement these tax strategies th...

Maybe you’ve heard differences between a Roth and traditional IRA in the past, but how do you determine if a Roth is right for you? What are the short-term vs. long-term benefits? On this episode: 0:33 - What’s the difference between a traditional IRA and a Roth IRA?   2:11 - Why do so many people contribute more to traditional IRAs? 3:14 - Why can a Roth be powerful for someone saving for retirem...

Have you created a retirement plan that covers all of the basics? More than just where your money is invested, do you have goals and a plan in place that accomplishes what you want it to? The seven-step retirement plan is something you can do to make sure you are headed in the right direction. This is part two of the series. On this episode:  1:09 - Recap of steps 1 through 4 of the seven step ret...

When creating a retirement plan, where do you start? And where are you headed? These seven simple steps will guide you through the process of building a retirement plan that works for you. This is part one of that series. Today's rundown:  1:33 - Introducing this first part of a series covering the seven step retirement plan. 1:55 - The four questions you need to ask yourself before starting the r...

Do you follow through on your investment plans and goals? Maybe you think and say one thing, but then never get around to making it happen. Does your retirement plan reflect you and your values? Let’s make sure your goals and actions are aligned in this episode. Check out the full show notes by clicking here.----more---- Today's rundown: 0:48 - When the meticulous saver and coupon cutter doesn’t p...

Have you considered doing a Roth conversion? Or did you even know they were an option? Here are four reasons to consider a Roth conversion and how they might fit in your tax strategy in the future. Check out full show notes for this episode by clicking here.  ----more---- Today's rundown: 1:05 - What is a Roth IRA, again? 2:58 - Reason #1: All conversions come out tax-free. 6:42 - Reason #2: Unlik...

What are the traits of a genius? And do they apply to you? How about your financial plan, is that the work of a genius? Learn how you too can think and act like a financial genius. Check out the full show notes by clicking here.  ----more---- Today's rundown:  0:42 - Geniuses are highly adaptable and able to adjust to whatever situation. 1:27 - When a spouse dies unexpectedly, your financial plan...

Some say “if” but most likely “when” tax rates increase, are you prepared to take a hit? What are some strategies you can implement now to prepare for a future increase in tax rates? These two strategies are sure to soften the blow later on. Check out the full show notes by clicking here .----more---- Today's rundown: 1:23 - Why might tax rates be higher in the future? 3:03 - In 2015, a memo sent...

Money is one of the top stressors in a marriage, so how do you handle it together successfully? Or, what happens to your retirement savings when you get a divorce? David answers these questions from the mailbag. See the full show notes by clicking here.----more---- Take a look at the rundown below. 0:21 - Mailbag: After 30 years of marriage, is it better to get half of a 401(k) or pension in the d...

Do you prefer mutual funds or ETFs? To figure out which is better, first you’ve got to know what each does. Then you can determine how they fit into your financial strategy. We'll help you do that in this episode.  Make sure you check out the show notes by clicking here.  Here's the rundown for this episode:  1:45 - What is a mutual fund? 3:48 - Mutual funds provide an easy route to diversificatio...

A lot of people assume you only need life insurance if you have kids at home. But did you know there are additional benefits to having life insurance that could impact both your life and your legacy? Check out the full show notes for today's episode by clicking here.  ----more---- Here's the rundown: 0:46 - Life insurance can be used as income replacement. 3:01 - Using life insurance to transfer f...

Are you planning for retirement but in the back of your mind also banking on a big inheritance? Is it wrong to factor that in? David answers this question from the mailbag about inheritance and gives some tips on how to best prepare for one. See the show notes and learn more about this show here.  ----more---- Take a look at the full rundown for today's episode:  0:44 – Mailbag: Is it unwise to fa...

One of the common questions about retirement is which age you should target so that you’re maximizing your assets. It’s never too early to start discussing the options, so whether you’re in your early 50s or approaching 70, there’s important information for each age range that will help you prepare for that big day. In this episode, find out what you can be doing at each milestone age to put yours...

Are you trying to decide where you should contribute money toward retirement? Whether you are 20 or 60, David will talk through some of the things to consider before you decide between a Roth IRA or traditional IRA. The difference down the line is worth taking time to thoroughly consider now. Full show notes:  https://coveryourassetskc.com/episode-33-should-you-contribute-to-a-roth-or-traditional-...

Have a few different old 401(k)s and want to simplify? Wondering if avoiding taxes is scam? Thinking about leaving an inheritance for your children? Listeners often send in their questions, so today David will answer these three questions from the mailbag. Equipping Points: 0:25 Combining old 401(k)s Michael in Lenexa has several old 401(k)s from companies he used to work for and is tired of getti...

These are three estate planning mistakes everyone will want to avoid. Regardless of how big or how complicated your estate is, these will impact your heirs if they are done incorrectly.   Equipping Points: Not naming secondary beneficiaries 1:57 David shares about a client who named a beneficiary but not a secondary beneficiary. The result eventually led to higher taxes. These kinds of mistakes ar...

When it comes to your money, it might feel like you have several different voices in your head telling you what to do. Sometimes it’s greed, sometimes it’s fear, sometimes it’s wisdom. We’ll talk through the different ways greed might speak to you and if you should follow those impulses. Check out full show notes of this episode here:  https://coveryourassetskc.com/episode-30-following-the-voice-o...

Today's Prep: When inheriting an IRA, you may have the option of a Stretch IRA. David walks us through what a stretch IRA is and how it can work for you. This is incredibly important to understand if you might inherit an IRA because it may change your options when it comes to tax strategies and building wealth. View the full show notes here:  https://coveryourassetskc.com/episode-29-3-things-to-kn...

David answers three listener questions, including one on saving for a wedding. He also tackles questions on IRAs and the tax implications of selling a stock. For in-depth exploration of this topic, check out our blog here:  https://coveryourassetskc.com/episode-28-how-to-save-for-a-wedding/

Have you learned the hard way your Social Security benefit could be taxed? A listener question sparked this discussion on Social Security taxation.  Discover how Security taxation could affect you in retirement. For in-depth exploration of this topic, check out our blog here:  https://coveryourassetskc.com/social-security-is-taxable-oops/

Whether you feel like you can do-it-yourself or aren’t sure who to trust, there are a number of reasons  people are hesitant to work with a financial advisor. We'll walk through a few common holdups and explain why you need the expertise of a dedicated financial planner for a successful retirement. For in-depth exploration of this topic, check out our blog here:  https://coveryourassetskc.com/why-...

Up, up, up! Today we look at a few things in the news that are going up including federal spending and retirement contribution limits. David discusses these recent items in the headlines and how they can impact your retirement. Then, looking down, we answer a question from the mailbag on how to prepare for a bear market. For in-depth exploration of this topic, check out our blog here:  https://cov...